Medicare’s Annual Enrollment Period (AEP) will be here before you know it. October 15th through December 7th Medicare Beneficiaries are the option to cancel, purchase, or switch their Medicare Advantage and/or Prescription Drug Plan. During this time, it’s crucial to review your options.
Do: Keep an eye out for changes to your current coverage
Individuals with a Medicare Advantage or Part D plan should pay attention when going through the mail. Look for an official “Annual Notice of Change” letter for their plan from the insurance company. Be careful not to get confused with marketing letters during this time, the notice would come directly from your insurance plan.
Don’t: Get fooled by tricky marketing ploys
During AEP, you will receive every sort of mailer under the sun. Be sure to work with someone you trust, who has been in business for a while, and has access to all of the Top Insurance Companies. Brokers are able to compare all of your plan options, rather than just one or two.
Do: Prepare a list of your current prescription medications, dosages, doctors, and specialists you see
Having a list ready is the best way to prepare for a meeting with a trusted insurance agent. This will allow them to compare and find plans that will accept your current doctors and prescription medications. Each plan varies in level of coverage and in/out of network doctors. It’s best to speak with someone to help you.
Don’t: Assume you can enroll in a Medicare plan at any time
The fall AEP pertains to two parts of Medicare: Part C (Medicare Advantage) and Part D (Prescription Drugs). Medicare Supplements, also known as “Medigap” policies are not included. Technically, you can enroll in a Medigap plan any time during the year, however, it often requires underwriting and may be difficult to be approved unless you are new to Medicare and within your initial enrollment period.
Do: Make an appointment early so you do not miss your opportunity (Oct 15 – Dec 7)
Don’t risk being unhappy with plan changes for the coming year.
GoldenCare has been in business for over 40 years and is contracted with all of the Top Insurance Companies. We have a knowledgeable team of local agents who are happy to assist you in navigating your Medicare options. Call us today to schedule an appointment with a Medicare Specialist to assist you. We’re here to help.
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